BSP on Yasay’s arrest for alleged violations of banking laws: ‘No comment’

Robie de Guzman   •   August 23, 2019   •   593

Former Foreign Affairs Secretary Perfecto Yasay Jr.

MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) on Friday said it will not issue any comment on the arrest of former Foreign Affairs Secretary Perfecto Yasay Jr., for his alleged violation of the country’s banking laws.

“The Bangko Sentral ng Pilipinas will not issue any comment as the matter is pending before the court and to do so would violate sub judice rule,” the central bank said in a statement.

On Thursday night, the Manila Police served a warrant of arrest to Yasay for his supposed violations of the provisions of Republic Act 8791 otherwise known as the General Banking Law, and Republic Act 7653 or the New Central Bank Act.

READ: MPD serves warrant of arrest to ex-DFA Sec. Yasay

Based on the information about the case, Yasay, together with five associates of the Banco Filipino Savings and Mortgages Bank conspired and aided each other in securing a loan amounting to P350-million for Tierrasud Incorporated which was partly guaranteed and secured by Tropical Land Corporation.

Yasay and company allegedly failed to report such loan accommodation to the BSP.

“The service of the Warrant of Arrest against Perfecto R. Yasay, Jr. is a consequence of the filing of criminal information by the Department of Justice before the court,” the BSP said.

“A judge issued the said warrant pursuant to the provisions of the Rules of Court,” it added.

On his Facebook account, Yasay denied the allegation, pointing out that he joined Banco Filipino in 2009, while the alleged crime was committed from 2003 to 2006.

Yasay served as Secretary of Foreign Affairs of the Philippines in an ad interim basis from June 30, 2016 until March 8, 2017.

BSP warns public vs unauthorized Instagram account

Robie de Guzman   •   January 10, 2020

MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) on Friday warned the public against an unauthorized account, bearing central bank’s name and logo, on the photo-sharing app Instagram.

In an advisory, the BSP said the account “bangko_sentral_lottery” is confirmed to be a scam and is not associated with the central bank.

It advises the public not to share any personal information or transact through the said account.  

“The account, which uses the BSP’s name and logo, is not associated with the BSP and the central bank has made the necessary representation for Instagram to take down said unauthorized account,” it said.

The BSP has existing and verified accounts on Instagram, Facebook and Twitter.

P20 coins now ready for 2020 — BSP

Marje Pelayo   •   December 31, 2019

MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) has announced that P20 coins are ready for circulation come January 1, 2020.

The newest addition in the BSP’s coin series may now be used as legal tender along with the P20 paper bill.

The BSP earlier said the production of coins are more cost-efficient since it can be in circulation for a longer period of time unlike the P20 paper bill which is prone to damage being the most used denomination.

BSP warns of fake P1,000 bills circulating in CamSur

Marje Pelayo   •   December 18, 2019

CAMARINES SUR, Philippines – Police authorities in the municipality of Goa are tracking the source of fake banknotes circulating in the markets there.

This was after several sari-sari stores complained of being victimized by people paying fake P1,000 bills.

Based on initial investigation of the Philippine National Police (PNP) in Goa, most of the victims were store owners in the upland area.

“Nakarecover kami ng bale apat po na P1,000 pesos na fake na magkapare-pareho ang serial number niya (We have recovered four pieces of fake P1,000 bill with the same serial number),” said PSSgt. Nestor Tuonan.

“Hanggang ngayon nagka-conduct po kami ng investigation para makuha namin kung saan po talaga galling o ang pinaka-source (We are currently conducting an investigation to identify the main source of the fake bills),” he added.

Authorities warn the public to be wary of accepting paper bills as lawless elements are taking advantage of the season to execute their modus operandi.

The Bangko Sentral ng Pilipinas (BSP), meanwhile, advised the public that there are three ways to distinguish fake banknotes from the genuine ones.

One way is to feel the prints on the paper bill.

“Maliban doon sa pagiging rough niya kapag hinawakan natin ang mga salitang Republika ng Pilipinas itong number words sa baba, ang denomination, ang signature naka emboss ang prints nito,” explained BSP Bank Officer II Florinda Joson.

(Aside from the rough feel when you touch the words ‘Republika ng Pilipinas,’ these number words at the lower portion, the denomination, and the signature are embossed.)

“So kahit wala tayong machine na gagamitin napakaganda ng pakakagawa ng new generations currency. Mahirap siyang gayahin. Kailangan lang malaman ng ating mga kababayan kung ano ang mga dapat tinitingnan sa pera,” Joson said.

(So even without the machine, the features of the new generation currency are very sophisticated. It can’t be easily faked. It’s just that the public needs to know how to scrutinize a genuine paper bill.)

The BSP calls on the public to immediately notify them if they receive information on whoever is spreading such fake banknotes or inform the nearest police authority. – MNP (with details from Allan Manansala)

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